House Prices: “Market to Cool Rather than Fall”
Darren Shaughnessy, Director Kings Residential, Estate Agents in Manchester and Letting Agents in Manchester writes:
Price Waterhouse Coopers, the big five Accountancy giant said today that the housing market was only marginally over-valued when compared to average earnings. In their view ”a general cooling of the market was still more likely than an outright fall in prices”. This means that fewer buyers might be looking for property but there is unlikely to be a major downward shift in prices.
I reckon PWC they have been reading my blog entry from a couple of weeks ago when I predicted the same outcome.
http://blog.kings-residential.co.uk/2007/10/21/uk-house-market-overpriced-says-imf/